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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?


To: Johnny_Blaze_420 who wrote (138366)8/1/2008 11:06:40 AM
From: Pogeu MahoneRead Replies (1) | Respond to of 306849
 
Johnny be Good
Mucho Thanks.
I will look into this in Ma.
Vosilla and McMannis how does this work in FL?
Patron ?
Everybody please chime in from your state.

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well i don't know how the law works in MA, but in CA, i pay his taxes and place a lien. instead of the state getting the high interest rate and penalty, i'm entitled to it when the house is paid off or sold.

after 5 years, i have a right to foreclose myself at what could be a very small investment, or i get the 14-17%. does it matter if the house dropped in value at that yield or discount?

Just have to be able to float the tax money for up to 5 years, but i think thats a much easier yield than buying up foreclosure at auction.



To: Johnny_Blaze_420 who wrote (138366)8/1/2008 11:11:09 AM
From: bentwayRead Replies (2) | Respond to of 306849
 
Are you Snidely Whiplash in 3D?



To: Johnny_Blaze_420 who wrote (138366)8/1/2008 12:15:03 PM
From: John VosillaRead Replies (2) | Respond to of 306849
 
Liens were bid down to next to nothing for many years on the assumption the mortgage holder would pick up the delinquent tax bill in the first year and the lien holder would get a 5% return here in FL..2008 was the first in a long time the financial institutions abandoned this game.. I wonder why<g> Now the locals got to play again and get 18%.